# China's 80% Gas Storage Estimate Could Ease Winter LNG Competition By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/33482 Published: 2026-10-16T20:55:35.000Z Updated: 2026-10-16T20:55:35.000Z Section: Investing > Lower inventories at Chinese LNG terminals could create about 2 million tons of conditional restocking demand, while EU storage was 74.1% full on Oct. 16. An estimate that China had filled 80% of its underground gas storage by September’s end could give the country more room to limit winter purchases of spot liquefied natural gas (LNG), affecting competition for cargoes across Asia and Europe. The Chinese government does not publish an official countrywide gas-stock reading, so the percentage is an estimate rather than a government inventory figure. It indicates how much underground capacity is occupied, not how much gas could be exported or how long stored volumes could meet domestic demand. China’s role in the LNG market makes the estimate relevant to buyers elsewhere: it has been the world’s leading LNG importer in every year since 2021 except 2022. If underground storage provides a cushion, China may need fewer spot cargoes, which are purchased for near-term delivery. That could leave more shipments for other buyers if Chinese purchases fall, but the fill estimate alone does not show that any cargo has been freed up. A recent drop in LNG inventories at Chinese import terminals could push in the other direction. If suppliers aim to refill those tanks to capacity, the restocking need could reach about 2 million tons. That is a possible demand scenario, not a confirmed order. Terminal inventories and underground storage are separate parts of China’s gas supply. Europe’s storage position adds context for buyers facing the same winter market. The European Union held 837.84 terawatt-hours of gas, or 74.1% of capacity, at 12 a.m. ET (0400 UTC) Friday, Oct. 16. The level adds to strains for [European gas buyers]() as winter approaches. Persian Gulf LNG flows were about 80% below year-earlier levels, while European gas prices reached their highest level since December 2022. Those conditions leave Asian and European purchasers competing for available shipments. China’s storage estimate points to possible flexibility in its demand for spot LNG, not evidence that the country will release gas or redirect shipments. Lower terminal inventories could also sustain Chinese demand even with underground storage relatively full. ## Links in this article - [European gas buyers](https://www.tokenpost.com/news/investing/32772)